Legislation to Boost Social Security in the 115th CongressNCPSSM2018-10-12T11:55:59-04:00

Legislation to Boost Social Security in the 115th Congress

Social Security 2100 Act H.R. 1902 Rep. John Larson

Strengthens Social Security’s financing and provides additional funding to improve benefits by extending and then eliminating the cap on payroll taxes. Provides for an across-the-board increase of about 2 percent, adopts the Consumer Price Index for Elderly Consumers (CPI-E), and expands the special minimum benefit.

Extends the solvency of Social Security through 2078, boosts benefits about $65/month for most beneficiaries, adopts the CPI-E to determine cost-of-living adjustments (COLAs), and increases the special minimum benefit.

CPI-E Act of 2017 H.R. 1251 Rep. Garamendi

Requires the use of the Consumer Price Index for the Elderly (CPI-E), for the purpose of determining cost-of-living adjustments for a broad array of Federal retirement programs, including Social Security.

Strengthens Social Security’s financial foundation by increasing revenue dedicated to support the program, and fund program improvements for beneficiaries.

Elderly Poverty Relief Act (S. 2653) Sen. Ron Wyden

The “Elder Poverty Relief Act” will help alleviate poverty among the elderly and the disabled by granting beneficiaries who have participated in Social Security for several years a monthly increase in their benefit equal to about $85.

Fair COLA for Seniors Act of 2017 (H.R. 2896) Rep. Rick Nolan HR 2896

Offers Social Security beneficiaries a one-time emergency benefit payment equal to a 3.9 percent raise, which is needed due to the lack of a cost-of-living adjustment (COLA) for 2016 and a disappointingly modest COLA for 2017.